Stablecoin Adjusted On-Chain Volume Reaches New Highs Stablec | Crypto World Analysis

Stablecoin Adjusted On-Chain Volume Reaches New Highs

Stablecoins continue to break into the mainstream due to their use in settling cross-border payments and in the process reached a new milestone in adjusted transaction volume in August. The use of stablecoins in cross-border transactions is far cheaper and faster than in centralized systems.

This has led to an adjusted on-chain volume of approximately $866 billion throughout August. In August of 2021, the crypto market bounced back from a brief bearish period that began three months prior. It was during this time that due BTC was removed as a payment method for Tesla-related products. In terms of stablecoin volume, August 2022 was an 86% year-over-year (YoY) gain from August 2021’s figure of $464 billion.

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